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Payments

Monthly payments and income required, based on purchase price and downpayment

The following tables will show you what your monthly payments would be, and the income required, based on your purchase price and downpayment.

Note that these tables are examples based on an interest rate of 6.25% and an amortization period of 25 years. Coming soon: you will be able to add your own customized columns to the charts. There may be other expenses not covered in this example, such as common fees for condominiums.

Mississauga Bungalow: $529,000 (brief)

Price 529,000 529,000 529,000
Downpayment Amount 52,900 105,800 158,700
Downpayment % 10% 20% 30%
Total Monthly Payment 3,568 3,179 2,816
Annual Income Required 133,815 119,203 105,598

Mississauga Bungalow: $529,000 (detailed)

Price 529,000 529,000 529,000
Downpayment Amount 52,900 105,800 158,700
Downpayment % 10% 20% 30%
Interest Rate 6.25% 6.25% 6.25%
Amortization 25 years 25 years 25 years
Mortgage 476,100 423,200 370,300
Insurance Premium 11,903 5,290 2,777
Total Mortgage 488,003 428,490 373,077
Monthly Prin. + Int. 3,195 2,806 2,443
Monthly Taxes 373 373 373
Total Monthly Payment 3,568 3,179 2,816
Annual Income Required 133,815 119,203 105,598





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TRILLIUM LANE REALTY LTD.